DWF LLP., a British law firm, plans to secure 95 million pounds ($125.4 million) in a stock market listing on the London Main Market.
The firm will issue 61.5 million new shares, and selling shareholders 16.6 million existing shares, at $1.61 each. The shares represent 26 percent of its total stock.
Based on the $1.61 price, DWF’s market capitalization is approximately $483 million.
The firm intends to use the funds to repay some of its credit, infuse in new information technology systems, and the remaining portion of the funds could also go to some purchases.